Nothing necessarily fishy. Noteholders can hold (not convert) up to 4.99% of the O/S without having to file beneficial ownership. I think most of them know we are due for a big run up and are holding shares now.
Read the Beneficial Ownership clause on the last 8K. I am assuming there was a similar clause in all the other Noteholder agreements.
Increase O/S from ECIG's treasury doesn't mean those shares are traded on the open market. One has nothing to do with the other. Taking money out of your checking account, doesn't mean you exchanged it for a product/service in the market. You can just hold your cash.
Dilution doesn't usually increase share price. Quite the opposite, which is what we're seeing. Fewer O/S supply leads to increased demand. Have you experienced differently? Not antagonizing, just curious
At least it seems they're diluting now based on the trading strength so not to completely tank it.
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